Pump.Fun Token Plummets 12.5% Amid iOS App Removal

Pump.Fun's (PUMP) token price experienced a significant decline of 12.5% over the past 24 hours, settling at $0.004002. The asset remains in a market capitalization of $1.659 billion.

The platform introduced 20 novel token pairs linked to equities and commodities on the Solana blockchain, with 50% of fees generated from these pairs allocated toward PUMP token buyback and burn mechanisms.

A technical analysis shows that Pump.Fun's price action had maintained an upward trajectory within an ascending channel for more than seven days. However, this formation has now failed, with PUMP breaking beneath the channel boundaries and approaching underlying support territory.